<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=331510594798275&amp;ev=PageView&amp;noscript=1">
Skip to Content Oregonians Credit Union Oregonians Credit Union
  • Save & Spend
    Save & Spend See an Overview
    • Current Rates
    • Disclosures
    • Fee Schedule
    • Credit Calculators
    • Savings
      • Regular Share Accounts
      • Youth Savings
      • Homebuyer Savings
      • Money Market Accounts
      • Club Accounts
      • Share Certificates
      • IRA Accounts
    • Checking
      • My Rewards Checking
      • My Interest Checking
      • Checking Comparison
    • Credit
      • Credit Cards
      • Overdraft Line of Credit
    • Digital
      • Digital Banking Online
      • Mobile App
      • Digital Payments
      • Mobile Wallets
  • Borrow
    Borrow See an Overview
    • Current Rates
    • Mortgage Rates
    • Loan Calculators
    • Mortgage Calculators
    • Auto
      • New & Used
      • First Time Auto Buyer
      • Local Car Search
    • Home
      • HELOCs
      • Fixed Rate Equity
      • Mortgages
      • Home Improvement
    • Personal
      • Personal Loans
      • Line of Credit
      • Share Secured Loans
    • Recreational
      • Bicycles & Electric Bikes
      • RVs & ATVs
      • Motorcycles
  • Plan
    Plan See an Overview
    • Retirement Calculators
    • Financial Planning
    • Insurance
      • Auto
      • Home
      • AD&D
      • Life
    • Protections
      • Guaranteed Auto Protection (GAP)
      • Mechanical Repair Coverage (MRC)
      • Debt Protection

    Featured Program

    Oregonians Financial Planning image with father and baby walking

    Oregonians Financial Planning

    Plan for the road ahead and manage your wealth along the way.

    Learn more
  • Business
    Business
    • Current Rates
    • Disclosures
    • Fee Schedule
    • Business Checking
      • Business Membership
      • Small Business Checking
      • Business Interest Checking
    • Business Loans
      • Commercial Real Estate
      • Investment & Rental Property
      • Equipment Loans
      • Term Loans
      • Credit Cards
      • Line of Credit
    • Business Resources
      • See all
  • Learn
    Learn See an Overview
    • Education Explore videos, blogs, fraud prevention tips, and our knowledge base of information..
      • InfORmed Blog
      • FAQs Knowledge Base
      • Fraud Watch
    • Financial Tools Browse calculators, applications, disclosures, and apply for hardship assistance.
      • Resources & Disclosures
      • Calculators
      • Hardship Assistance

    Featured Resource

    It’s a Money Thing

    Get money savvy fast with fun videos and lesson plans on earning, saving, and more!

    Learn more
  • About
    About
    • About Us
      • Who Can Join
      • Community Involvement
      • Scholarships
      • Latest Annual Report
      • Careers
    • Locations
      • Beaverton
      • Gresham
      • Milwaukie
      • NE Portland
      • Oregon City
      • Prineville
      • St. Johns

    CO-OP logo

    30,000+ fee-free ATMs

    Get cash at 30,000 fee-free ATMs nationwide, many of which will take deposits into your Oregonians accounts.

    Find an ATM
  • I want to...
    • Become a Member
    • Talk to Someone
    • Apply for a Loan
    • Open an Account
    • Check Loan Status
    • See Current Rates
Account Access
  • Forgot Password
  • Forgot User Name

Don't have an account?

Enroll
Routing #: 323075709
  • Locations
  • Rates
  • Contact
Call or Text: 503-239-5336
Join
  • I want to...
    • Become a Member
    • Talk to Someone
    • Apply for a Loan
    • Open an Account
    • Check Loan Status
    • See Current Rates
  • Locations
  • Rates
  • Contact
Account Access
  • Forgot Password
  • Forgot User Name

Don't have an account?

Enroll
Blog
    • Everyday Finance
    • Budgeting
    • Fraud Prevention
    • Finances
    • Savings
    • Holidays
    • Scams
    • Home Financing
    • Debt
    • Saving
    • Credit Cards
    • Investing
    • Car Buying
    • Fraud Watch
    • Home Improvement
    • Community
    • Homeownership
    • identity theft
    • Taxes
    • bills
    • Insurance
    • Travel Tips
    • Financial Wellness
    • Mortgage
    • retirement
    • vacation
    • Financial Security
    • shopping
    • Credit
    • General Health
    • Home Loans
    • car
    • house
    • investment
    • marriage
    • school
    • summer
    • 401(k)
    • Cash
    • frugal living
    • heloc
    • interest
    • job hunting
    • parenting
    • thanksgiving
    • winter
    • Auto Loans
    • DIY
    • Debit
    • First-Time Homeowner
    • Home Equity Loan
    • Home Inspection
    • Housing Market
    • Mobile Wallets
    • Mortgages
    • Personal Loans
    • Scholarships
    • Selling Your Home
    • Share Secured Loans
    • Spending
    • Student Loan
    • Telemarketing
    • Your Credit
    • camping
    • credit card
    • financing
    • gas
    • goals
    • grant
    • hacker
    • health insurance
    • heritage
    • insurance myths
    • insurance policy
    • kids and money
    • life insurance
    • malware
    • medical history
    • money management
    • mother's day
    • motorcycle
    • mutual funds
    • rv
    • samsung pay
    • security
    • single parents
    • skip payment
    • skipapay
    • spanish
    • stimulus
    • technology
    • thriving
    • trade in
    • wellness

How Do I Give Myself an End-of-Year Financial Review?

Oregonians Credit Union Oregonians Credit Union Dec 30, 2020 4 min

Q: With 2020 drawing to a close, I’d love to give myself an end-of-year financial review before it goes.  Where do I begin?

A: Giving yourself an end-of-year financial review is a wonderful way to check on the progress you’ve made toward your goals, highlight areas needing improvement and update your accounts, funds and investments. Here’s all you need to know about this important end-of-year ritual.

Step 1: Review all your debts and create a payoff plan

Take a few minutes to list all your debts and their interest rates. Have you made any real progress toward paying them off this year? Or have you stuck with minimal payments each month, leaving the actual balance to pile up since you’re mostly just paying for interest?

If your debt needs some help, you have two primary options for how to proceed:

  • The avalanche method. Focus on paying off the debt with the highest interest rate first, and then continue to the debt with the second-highest interest rate. Move through the list until you’ve paid off all debts.
  • The snowball method. Work your way through your debts, starting with the lowest-balance debt. Then, once it’s paid off, apply the payment that was previously committed to that debt to your new lowest debt. Repeat through the rest until all debts are paid off.

For both methods, be sure to pay the minimum balance on all your other debts each month. Try to boost your income and/or trim your monthly spending for extra cash and use it toward the first debt you are paying off completely.

Step 2: Automate your savings

Review your savings from 2020. Have you reached your goals? Have you forgotten to put money into savings each month?

Going forward, make it easy by automating your savings. Give us a call at 503.239.5336 to set up an automatic monthly transfer from your checking account to your savings account. [You can also set this up through your online and/or mobile banking with us.] This way, you’ll never forget to put money into savings again.

Step 3: Review the progress you have (or haven’t) made on financial goals

Have you made measurable progress toward your financial goals in 2020?

Take a few minutes to review your past goals, taking note of your progress and determining how you can move toward achieving them.

Step 4: Review your retirement account(s) and investments

As you work through this crucial step, be sure to review the following variables:

  • Your employer’s matching contributions. Are you taking advantage of this free money, or leaving some of it on the table?
  • The maximum IRA contribution limits for 2021. You will likely need to make adjustments for the coming year.
  • Management fees and expense ratios for your investments. Fees should ideally be less than 0.1%.
  • Your stock/bond ratio and investing style. You may want to take more risks in 2021 or decide to play it safer this year.
  • Your portfolio’s balance. Does it need adjusting?

Step 5: Create an ICE Binder

The events of 2020 underscored the importance of making plans in case one becomes incapacitated for any reason. Create an In-Case-of-Emergency (ICE) Binder to hold all your important documents in one place in case the unthinkable happens. Because of the sensitive nature of the information it holds, be sure to keep this in a safe place where it will not fall into the hands of identity thieves.

Include the following in your binder:

  • Medical information
  • Account information
  • Child care and pet care details
  • Online accounts and passwords
  • Insurance policy documentation and details
  • Investment accounts and details
  • A copy of your life insurance policy
  • A copy of your living will
  • A copy of your last will and testament

Step 6: Set new financial goals for 2021
As you finish reviewing your financial progress of the past year, look forward to accomplishing greater financial goals in the coming year.

A great way to turn dreams into reality is to set goals that are SMART:

Specific

Measurable

Attainable

Realistic

Timely

Here are some goals you may want to set for the coming year:

  • Create a monthly budget before January. Be sure to include all expense categories. Review on the first of each month and tweak as necessary.
  • Review the week’s spending with your partner each Friday night.
  • Pay off your largest credit card bill by 2022.
  • Start a vacation fund in February.
  • Cut out two subscriptions you don’t really use by mid-year.
  • Slash your weekly grocery bill by 10% before May.

Wishing you a financially healthy New Year!

Your Turn: Do you have any additional steps for your own end-of-year financial review? Share them with us in the comments.

Topics Covered

  • Everyday Finance
  • Finances
  • Taxes
  • Savings
  • goals

Subscribe to our Blog

Get the latest insights sent directly to your inbox.

Related Posts

Aug 3, 2022 4 min
Should I Keep Cash at Home?
Everyday Finance
Mar 6, 2024 4 min
8 Financially Responsible Ways to Use Your Tax Refund
Everyday Finance
Nov 9, 2022 4 min
Step 10 of 12 to Financial Wellness: Plan for Retirement
retirement
Oct 30, 2024 4 min
Understanding Key Mortgage Terms
Mortgage
Oregonians Credit Union

6915 SE Lake Road, Milwaukie, OR 97267 

Call or Text

503-239-5336

Out of Area

800-982-2974

Routing #

323075709

Download our App

  • App Store Download
  • Google Play Store Download
  • Save & Spend
    • Open a New Account
    • Savings
    • Checking
    • Credit
    • Digital Banking
  • Borrow
    • Apply for a Loan
    • Vehicle Loans
    • Home Loans
    • Recreational Loans
    • Personal Loans
    • Business Loans
  • Plan
    • Insurance
    • Protections
    • Financial Planning
  • Learn
    • Informed Blog
    • Fraud Watch
    • It's a Money Thing
    • Calculators
    • Hardship Assistance
  • Business
    • Business Accounts
    • Business Loans
    • Business Resources
  • About
    • Become a Member
    • About Us
    • Contact Us
    • Locations
    • Careers
    • Privacy & Disclosures
    • Accessibility Policy
    • Site Map
    • Digital Banking Login

  • NCUA
  • Equal Housing Opportunity
©2025 Oregonians Credit Union All rights reserved.

You are leaving OregoniansCU.com

By accessing this link, you will be leaving Oregonian Credit Union's website and entering a website hosted by another party. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Oregonian Credit Union's website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Oregonian Credit Union.

 

Subscribe